Market in a Minute

Market in a Minute & StatPak March 2019

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC, Montgomery County and Prince George’s County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - March 2019 StatPak with Contract Snapshot from February 2019

CONTRACTS:Contract activity in February 2019 was down9.0% from February 2018 and was down for the four lower price categories. Through the first two months of the year, contract activity is down 7.3% The average number of days on the market for homes receiving contracts was 31 days in February 2019, down considerably from 42 days in February of last year.

Loudoun County - March 2019 StatPak with Contract Snapshot from February 2019

CONTRACTS:Contract activity in February 2019 was down 9.4% from last February and was down in four of the six price categories. Through the first two months of the year contract activity is down 8.3%. The average number of days on the market for homes receiving contracts was 36 days in February 2019, down from 42 days in February of last year.

Montgomery County - March 2019 StatPak with Contract Snapshot from February 2019

CONTRACTS:Contract activity in February 2019 was down 8.6% from February 2018 and was down in five of the six price categories. Through the first two months of the year contract activity is down 3.3%. The average number of days on the market for homes receiving contracts was 61 days in February 2019, up ten days from 51 days in February of last year.

Prince George's County - March 2019 StatPak with Contract Snapshot from February 2019

CONTRACTS:Contract activity in February 2019 was up 6.8% from February 2018 because of increases in activity on homes priced between $300,000 and $749,999. Through the first two months of the year, contract activity is up 4.6%. The average number of days on the market for homes receiving contracts was 61 days in February 2019, up from 52 days this time last year.

Washington, DC - March 2019 StatPak with Contract Snapshot from February 2019

CONTRACTS:Contract activity in February 2019 was up 6.7% from February 2018 and was up in five of the six price categories. Through the first two months of the year contract activity is down just 0.9%. The average number of days on the market for homes receiving contracts was 50 days in February 2019, up from 37 days in February of last year.